Balanced Score Cards

Question 1

What is on a balance scorecard

Answer 1

Learning and growth perspective
Internal process perspective
Customer perspective
Financial perspective

Question 2

Learning and growth objectives and measures

Answer 2

To value our staff - employee retention index
Maximise productivity- output per head
Develop skilled workforce - number of training hours
Organisation alignment- peer evaluation

Question 3

Internal business processes
objectives and measures

Answer 3

Challenge competitor products - time to market for next gen of products

Compete on product reliability- product defect rates

Competitive logistic, stock replenishment cycle

Question 4

Financial perspective,
Objectives and measures

Answer 4

Higher return - ROI

Significant revenue from our new product - revenue growth

Maximise profitability per transaction - unit costs

Question 5

Customer
Objectives and measures

Answer 5

Dominate major markets - market share

Delight targeted customers - customer satisfaction results

Increase revenue through repeat purchases , customer retention

Question 6

How can a balance scorecard help ?

Answer 6

Important aspects of organisational performance cannot be measured in purely financial terms. Focus of managers could be myopic and may be motivated by the wrong stimuli

Communication tool

Building objectives